RMO No. 28-2000 — Creates a new Alphanumeric Tax Codes (ATCs) of revenue sources for proper classification of taxes Digest

REVENUE MEMORANDUM ORDER NO. 28-2000 issued August 17, 2000 creates new Alphanumeric Tax Codes (ATCs) of revenue sources for proper classification of taxes. The following ATCs are created to cover taxes paid by stock, real estate, commercial, customs and immigration brokers: (1) other percentage tax - PT210; and (2) withholding tax on business - WB210. The aforementioned ATCs shall apply effective January 1, 2000. Beginning January 1, 2001, said ATCs shall be dropped and replaced by the following ATCs: (1) Value-added Tax - VB210; and (2) withholding of creditable VAT - WV210.